A guide to fees and charges - personal banking fees

What's in this guide?

This guide covers the fees that may apply for a range of our personal accounts and services. It only applies to NAB branded products and services unless we have specifically advised you otherwise. You can use this guide to identify which fees may apply to you and ways you may reduce or avoid these fees.

Sections 3-6 cover the remaining fees which could apply to your account including fees relating to loans and lending, and government taxes and charges. We pass on government charges and taxes to customers at the time they are payable. These taxes may change at any time.

There is a separate fees and charges guide for business banking products.

How this guide fits with other documents

This document forms part of the terms and conditions or Product Disclosure Statement for these products, along with the other documents detailed below:

Product

Documents that make up the Terms and Conditions or Product Disclosure Statement for this product, along with this document

NAB Personal Transaction and Savings Products

NAB Personal transaction and savings products terms and conditions

Indicator Rates – Deposit Products

NAB Internet Banking

NAB Internet Banking terms and conditions

NAB Telephone Banking

NAB Telephone Banking terms and conditions

NAB Electronic Banking (card based)

Product Disclosure Statement including Conditions of Use for Electronic Banking (card based)

NAB Cash Manager

NAB Cash Manager Terms and Conditions

Indicator Rates – Deposit Products

If you haven't already received a copy of each of these items for your product, please let us know.

Any questions?

If you have any questions simply visit your nearest NAB store or phone us on 13 22 65 from 8am-7pm Mon-Fri, or 9am-6pm on weekends (AEST/AEDT) .

Special clearance of cheques

Section 3Credit Card Accounts

Credit Card Accounts
Credit Card annual fees

Accounts opened prior to 1 December 2000 will be charged an annual fee in January each year. Accounts opened from 1 December 2000 will be charged the first annual fee when you accept the credit card agreement and then annually in the same month thereafter.

Credit Card Annual Fees

NAB Low Rate Card

$59.00 pa

NAB Low Fee Card

$30.00 pa

NAB Premium Card

$90.00 pa

NAB Velocity Rewards Card

$65.00 pa

NAB Velocity Rewards Premium Card

$150.00 pa

NAB Qantas Rewards Card

$65.00 pa

NAB Qantas Rewards Premium Card

$250.00 pa

NAB flybuys Rewards Card

$65.00 pa

NAB Visa One Fee-Free*

$Nil

NAB Visa Mini*

$40.00 pa

NAB Qantas Plus Card*

$145.50 pa

NAB Low Rate Premium Card*

$59.00 pa

™ Ant is a Trademark of National Australia Bank Limited ABN 12 004 044 937.* Product not for sale.

® American Express is a registered trademark of American Express Company. NAB American Express Cards are issued by NAB pursuant to a licence from American Express.

® MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

The annual fee is waived for cards included in a NAB Tailored Home Loan Package,1 NAB Choice Package, Private Tailored Package, NAB Introductory Rate Home Loan,1 Homeowner’s Package,1 Portfolio Package and Private Portfolio Package for the life of the Package.

When a package is cancelled/ terminated, the annual card fee will be debited after the Package ends and then annually in the same month thereafter.

If the credit card accounts are part of a NAB Homeplus Home Loan arrangement, the annuual card fees are not charged during the life of a Homeplus Home Loan.

When the Homeplus Home Loan ends, the annual card fee will be debited then and then annually in the same month thereafter.

Cards included in NAB Shareholder’s Package will have the Credit Card annual fee waived for the next annual fee period, if net purchases on the relevant account during an annual fee period exceed $4,000 on NAB Low Fee Card and NAB Velocity Rewards Card accounts and $7,500 on NAB Premium Card, NAB Qantas Plus Card and NAB Velocity Rewards Premium Card accounts. The following Cards included in NAB Shareholder’s Package will have the Credit Card annual fee waived: NAB Qantas Rewards, NAB Qantas Rewards Premium and NAB flybuys Rewards Card.

The following fee will be debited on provision of service.

NAB International Transaction Fee

The following NAB International Transaction Fees apply to all credit card accounts, except NAB Visa One Fee-Free.

Single Currency Transaction: A transaction made in Australian dollars with an internationally-designated merchant.

Multi Currency Transaction: A transaction made in a currency other than Australian dollars with an internationally or Australian-designated merchant.

Card Scheme

Transaction Type

NAB International Transaction Fee1

Visa

Single Currency

3.00%

Multi Currency

3.00%

MasterCard

Single Currency

3.00%

Multi-Currency (Made with an internationally designated merchant)

3.00%

Multi-Currency (Made with an Australian designated merchant)

3.00%

American Express

Single Currency

3.00%

Multi Currency

2.00%

This Fee is a percentage of the converted AUD amount shown on your statement.

American Express Multi-Currency transactions are also subject to an American Express Currency Conversion Factor of 1.00% of any USD transaction amount or any USD equivalent amount for transactions made in non-USD. This Factor is included in the converted AUD amount shown on your statement.

Cash Advance Fees

The following cash advance fees apply to all credit card accounts, except NAB Visa One Fee-Free.

For Cash Advances you will be charged a percentage of the Cash Advance (in Australian dollars) or the minimum fee, whichever is the greater.

Note: NAB posts purchases and cash advances in that order to your account before posting payments and refunds.

Channel

Cash Advance amount

Minimum fee

All channels

1.75%

$1.75

In the case of cash advances made in currencies other than Australian dollars, the cash advance amount used to calculate the cash advance fee is the Australian dollar amount posted to your NAB Credit Card account.

American Express cards are not accepted at non-NAB branches, Travelex or Australia Post (bank@Post) outlets.

You may be charged by the ATM owner where you make a cash advance using an ATM in Australia that doesn’t belong to NAB or the rediATM network.

Section 4Loans, Overdrafts and Other Lending Facilities

Loans

We will advise you in writing of any agreed borrowing facility which will cover the interest rate, how and when it is charged, and what fees are payable. Fees typically include an Application Fee and a Loan Service Fee.

Changes to interest rates are advised by press advertisements and appear on your loan account statement. Details of current rates can be obtained from your branch.

Application fees are non refundable upon acceptance of loan or lending facility. If the facility is declined by NAB or not accepted by you, the application fee will be refunded.

For loans included in a Package there is no Application Fee or Facility Fee. Application Fee includes up to 2 home loan applications, provided they are applied for at the same time and are over the same security.

$250 pa

Loan Service Fee

There are no Loan Service Fees for:

loans included in a Package

NAB FlexiPlus Mortgage

NAB Base Variable Rate Home Loan

$8 per month

Rate Lock

Rate Lock allows customers applying for a fixed rate home loan to lock their fixed interest rate for up to 90 days.

Fee available on request

Progressive Drawdown Fee
(applies to construction loans only)

$60 per payment

Economic Costs for fixed rate loans

Economic costs for fixed rate loans are NAB's reasonable estimate of our loss (if any) from the prepayment of a fixed rate loan. Economic costs may be payable if you prepay more than $20,000 or close the loan during a fixed rate period or, end your fixed rate period early.

The following fees and charges apply to:

• NAB Homeplus Home Loans

• NAB Peak Performance Equity Mortgages

• NAB Fixed Rate (Interest Only) Mortgages

Application Fee - New customer

$600

Application Fee - Existing customer (new loan)

$300

Application Fee - Low Doc

The application fee will increase by this amount

$300

The application fee includes multiple home loan applications, provided they are applied for at the same time and are over the same security. The new customer fee applies where the customer does not currently have a NAB Homeplus Home Loan, NAB Peak Performance Equity Mortgage Facility or NAB Fixed Rate (Interest Only) Mortgage Loan.

Loan Service Fee

There are no Loan Service Fees for:

· NAB Peak Performance Equity Mortgage’s

· NAB Fixed Rate (Interest Only) Mortgage’s

$10 per month

Facility Fee

(for NAB Peak Performance Equity Mortgage only)

$70 per half year

Variation Fee

The variation fee is payable each time you request us to increase your facility, change or discharge the security.

A Legal Service Fee may also be payable for the preparation of security documentation and attending settlement where applicable.

$300

Rate Lock Fee

Rate Lock allows customers applying for a fixed rate home loan to lock their fixed interest rate for up to 90 days

0.15% of the approved facility limit rounded to the nearest $10. Minimum $50.

Progressive Drawdown fee

(only applies to construction loans)

$60 Per drawing. Payable when you request a progressive drawdown of the facility limit after the first drawing.

External Valuation Fee

Payable when we require our external valuers to conduct a valuation of the security property (eg. properties over $2.5 million). Fee varies depending on our external valuer’s quote and will be described in the contract.

Legal Service Fee

(where FASTRefi is used)

$124.36

Legal Service Fee

(where FASTRefi is not used)

$250 (for contracts dated on or after 20 February 2015)

Economic costs for fixed rate loans

Economic costs for fixed rate loans are NAB’s reasonable estimate of our loss (if any) from the prepayment of a fixed rate loan. Economic costs may be payable if you prepay more than $20,000 or close the loan during a fixed rate period or, end your fixed rate period early.

Company/Business Name Searches

Charges where Uncertificated Shares Provided as Security Under CHESS (Clearing House Electronic Sub-Register System). All fees are GST inclusive

Establishment of Sponsorship and Holder Identification Number (HIN), upon lodgement of a single line of shares into the Mortgagor's HIN

Securities valued1 at up to $500,000

$120

Securities valued above $500,000

$120 for the first $500,000 plus $33 for every $100,000 (or part thereof) above $500,000

Additional lines of security lodged at establishment

$44 irrespective of value

Statement of holdings

$33

Statement of transactions

$33

TFN lodgement2

$44

Takeover acceptance3

$44

All other transactions not otherwise mentioned above or exempted4

$120

Security valuation is the last price quoted at the close of trading on the day before the instruction to establish the holding being issued to the Sponsor, multiplied by the number of shares held.

Must be lodged with the Sponsor no later than two (2) business days prior to the 'ex' date for any distribution of income or capital from the company.

Must be notified to the Sponsor no later than two (2) business days prior to the closing date of the takeover offer.

Includes the addition or removal of shares to the Mortgagor's HIN, but excludes the initial receipt of one or more lines of shares at the establishment of the facility and any holding altered by a corporate action, i.e. bonus, rights and Dividend Reinvestment Plan issues.

Legal Fees

Legal fees for work performed by the Bank's internal legal department. Please refer to NAB's Legal Fees and Charges booklet, available on request, for a comprehensive list of legal fees and charges applicable to lending transactions and enforcement matters where legal work is performed by NAB's internal legal department.

International Transfers Inward (received)

Overseas parties that direct a payment to NAB may charge a commission in respect of these transfers, which are included in our fee. Our fee also depends on the currency of the transfer. This fee is usually deducted from the amount paid. In some cases, the sending party may instruct NAB to charge our fee to them. Where NAB does this, NAB will not charge the payment beneficiary and may charge the sending bank a higher amount than set out below.

Transfers to NAB in Australian or overseas currency:

Deposited to NAB account

Up to $15

Or

Deposited to non- NAB account (NAB acting as intermediary)

Up to $30

Transfers of overseas currency received by NAB and transferred to another bank unconverted:

Safe Custody Services

Custody Charges

Existing first packet lodged on or before 1 January 1995 is $Nil until further notice.

Customer Supplied Locked Box

Paid Annually in advance, due date 31 May
Minimum fee

$100.00*

Cubic Capacity (cm)

Annual Charge p.a.*

Up to 8,000

$100.00

Over 8,000

$100.00

For each additional 8,000 cubic centimetres or part thereof

Plus $100.00

Double Custody Item

Paid in advance, on lodgement per item for 3 months.
For small secure package, box or envelope.
Maximum period is 3 months.

$30.00*

*GST inclusive

Safe Custody Services—Activity Charge

Safe Deposit Box/Locker

Refer to Safe Deposit Centre Facilities, below

Safe Deposit Centre Facilities, including Safe Deposit Boxes/Lockers

Available in Adelaide, Brisbane, Melbourne, Perth and Sydney. Fees for services vary depending on where the service is provided. Details of applicable fees are available upon request at the Safe Deposit Centres or phone us on 13 BANK (13 22 65).

Transaction Charges

Transactional legal fees will apply where, as a condition of NAB providing a loan, taking a security, consenting to an amendment to a loan or security or providing banking accommodation, legal work is required to be done by NAB's internal legal department. The legal fee will be disclosed to you by your banker before any legal work is commenced.

Credit transfers

Funds Transfer Fee2 - Facsimile Request

Incurred when the NAB processes written instructions received via letter or facsimile to manually transfer funds to another NAB account or an account with another financial institution. Facsimile written instructions will only be acted on where a facsimile letter of authority is held.

$20 per transfer (not per letter or facsimile).Plus applicable service fees (see International Services and Other Banking Services)

This fee does not apply to any credit contract with NAB to which the National Credit Code applies.

This fee does not apply to instructions such as Periodical Payments, Direct Debits and Cheques.

Section 6Government Taxes

Goods and Services Tax (GST)

The GST Clause applies to fees and charges that are not expressed as 'GST inclusive' in this brochure. However, in the event of a change to the GST rate, NAB reserves the right to apply the GST clause to all fees in this brochure.

GST Clause

If NAB is liable to pay goods and services tax or any similar tax (GST) on a supply made in connection with a service referred to in this brochure, then the Customer agrees to pay NAB (on demand) an additional amount equal to the consideration payable for the supply, multiplied by the prevailing GST rate.

General Advice Warning

Any advice in this document has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice in this document, National Australia Bank Limited (NAB) recommends that you consider whether it is appropriate for your circumstances.

We also recommend you consider the Product Disclosure Statement or other disclosure document, available from NAB, before making any decisions regarding any of the products listed on page 3. The above products are issued by National Australia Bank Limited.

For more information call 13 22 65 from 8am-7pm Mon-Fri, or 9am-6pm on weekends (AEST/AEDT) .